Santander improves their million plus mortgages
Santander for Intermediaries has improved their large mortgage loan rates by reducing the deposit they require and increasing their standard maximum loan sizes.
Their latest two-year fixed rate at 2.14% is available for mortgages up to £1.5 million and it has a £995 arrangement fee. The rate increases to 2.34% if you are looking to borrow up to £2.5 million and the arrangement fee increases to £1,995.
To access these mortgage rates, applicants will need to put down a 30% deposit and to borrow £1.5 million they will need to earn around £300,000 each year. To borrow £2.5 million, they will need to earn approximately £500,000 each year.
The lender offers a generous mortgage affordability calculator although borrowers will need an excellent credit score to access these rates. The lenders standard variable rate is 4.74%.
If you would like help to secure a large mortgage loan, call us on 020 7016 0790.
October 25, 2013
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